Demystifying Rising Inequality in Asia

Demystifying Rising Inequality in Asia
Author: Bihong Huang
Publisher:
Total Pages: 250
Release: 2019-01-29
Genre: Business & Economics
ISBN: 9784899741015

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Income inequality is one of the most profound social, economic, and political challenges of our time. The gap between the rich and the poor has been regarded as a major concern for policy makers. This gap is at its highest level in decades for developed economies, while the inequality trend has been rising in many developing countries. In Asia, despite recent economic growth, income distribution has been worsening as well. This book contributes to the existing literature on inequality in Asia by focusing on three broad themes, corresponding to three parts of the volume. Part I offers an overview of inequality in Asia, Part II focuses on the drivers of rising inequality in Asia, and Part III presents country case studies.

Inequality in Asia and the Pacific

Inequality in Asia and the Pacific
Author: Ravi Kanbur
Publisher: Routledge
Total Pages: 315
Release: 2014-02-24
Genre: Business & Economics
ISBN: 1134670273

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Asia’s rapid economic growth has led to a significant reduction in extreme poverty, but accompanied by rising inequality. This book deals with three questions: What have been the trends of inequality in Asia and the Pacific? What are the key drivers of rising inequality in the region? How should Asian countries respond to the rising inequality? Technological change, globalization, and market-oriented reform have been the key drivers of Asia’s remarkable growth and poverty reduction, but they have also had significant distribution consequences. These three drivers of growth cannot be hindered because they are the sources of productivity improvement and betterment of quality of life. This book will be useful to those interested in policy options that could be deployed by Asian countries in confronting rising inequality.

Inequality, Inclusive Growth, and Fiscal Policy in Asia

Inequality, Inclusive Growth, and Fiscal Policy in Asia
Author: Donghyun Park
Publisher: Routledge
Total Pages: 320
Release: 2015-04-17
Genre: Business & Economics
ISBN: 1317530942

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Developing Asia’s sustained rapid growth has improved general living standards and lifted hundreds of millions of Asians out of poverty within a generation. Yet the region now finds itself confronting rising inequality. Countries where inequality has worsened over the past 2 decades collectively account for over 80% of Asia’s population. As a result, governments across the region have begun to accord a higher priority to promoting more inclusive growth. The international experience, especially the experience of the advanced economies, suggests that fiscal policy can make a potent contribution to reducing inequality. This book systematically explores the relationship between both sides of fiscal policy—public spending as well as taxes and other fiscal revenues—and inequality in Asia at great depths. On the basis of the analysis, the book sets forth a number of concrete options for rendering fiscal policy a more effective tool for more inclusive growth that benefits all Asians. Inequality, Inclusive Growth, and Fiscal Policy in Asia is written in response to an issue of growing demand in most Asian countries, and it comes at a time when Asian governments are also beginning to use fiscal policy to bridge the glaring disparities between the rich and the poor of the region. As such, the book will be a highly valuable reference for researchers, policy makers, and students as well.

Development Asia—Deepening Divide: Can Asia Beat the Menace of Rising Inequality?

Development Asia—Deepening Divide: Can Asia Beat the Menace of Rising Inequality?
Author: Asian Development Bank
Publisher: Asian Development Bank
Total Pages: 60
Release: 2013-04-01
Genre: Social Science
ISBN: 9292574442

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Development Asia examines Asia's widening inequality from many different perspectives. It looks at the role of globalization in producing inequality, and considers the disputed relationship between inequality and economic growth. Beneath the gloss of Asia's newfound prosperity lies an unsettling reality. Rising inequality has denied the benefits of Asia's economic growth to many millions of its citizens. The problem is worsening as the region's rich get richer much faster than the poor, who miss out on the income, education, and health care they need to lead fulfilling lives. Asia isn't the only region suff ering from a wealth gap, but unlike others it has failed so far to narrow the divide. Most of its large economies have shown rising income inequality since the 1990s, and rural poverty is outpacing urban poverty across much of the continent. If left unchecked, the consequences of this trend could be dire. In this issue, Development Asia examines Asia's widening inequality from many different perspectives. It looks at the role of globalization in producing inequality, and considers the disputed relationship between inequality and economic growth.

Poverty, Inequality, and Inclusive Growth in Asia

Poverty, Inequality, and Inclusive Growth in Asia
Author: Juzhong Zhuang
Publisher: Anthem Press
Total Pages: 492
Release: 2011-10-01
Genre: Business & Economics
ISBN: 0857288385

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While Asia’s growth record in recent decades is remarkable, it has been marred by rising inequalities. This book looks at recent trends of income and non-income inequalities in developing Asian countries, discusses their underlying driving forces, and examines key policy issues that need to be addressed to ensure that the benefits of growth will be more equitably shared in Asia. The book also presents a set of country studies that provide rich information on growth, poverty and inequality dynamics and the policy challenges that arise in marching toward inclusive growth.

Inequality and Exclusion in Southeast Asia

Inequality and Exclusion in Southeast Asia
Author: Lee Hwok Aun
Publisher: ISEAS-Yusof Ishak Institute
Total Pages: 344
Release: 2021-10-11
Genre: Business & Economics
ISBN: 9814951218

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Inequality is a defining global issue of our times. Southeast Asia stands out in some ways; the 2010s have seen most countries in the region reduce income gaps. Nonetheless, inequality levels remain high, especially in the middle-income to high-income countries, and popular disaffection and economic anxiety prevail, even while official statistics may paint more buoyant scenarios. The age-old problem of group-based exclusion in the development process manifests in new ways. This book provides up-to-date overviews of inequality levels and trends, primarily related to income, but also wealth and other socio-economic variables pertaining to education and health. The country chapters also examine salient themes of inequality, especially structural changes and public policies to redress inequality and exclusion, labour market developments, population groups, regional dynamics, and informal economies. We gain an appreciation for the unique conditions and diverse experiences of each country, and draw comparative insights across the region. “This is an impressive collection of papers written by scholars from Southeast Asia and addressing an important set of issues which deserve serious attention from policymakers. Inequality and social exclusion are problems which never seem to go away, even in the high-income countries, and this collection will be valuable for all those seeking to understand how serious the situation is in eight Southeast Asian states. The editors are to be congratulated on bringing together such a timely book.” Anne Booth, Emeritus Professor of Economics, School of Oriental and African Studies “This compilation of recent research on Southeast Asian economic inequalities by Lee and Choong underscores the rapid progress being made. The authors from the region underscore the global shift in research and policy attention in this century. Reflecting data and methodological diversity, the book variedly captures some ‘intersectionality’ of inequalities beyond the old focus on interpersonal and household income distribution.” Jomo KS, Fellow, Academy of Science, Malaysia “In societies across the world, rising inequality has become a critical issue over the past generation. Besides basic issues of justice, inequality between people obstructs the collective decision-making needed for societies to progress. This book is the most comprehensive study of inequality in Southeast Asia. It stresses that each society is different, but the solutions are common—good data, proper understanding, multidimensional approaches, strong institutions and popular agency.” Pasuk Phongpaichit, Emeritus Professor, Chulalongkorn University

Asian Development Outlook 2012

Asian Development Outlook 2012
Author: Asian Development Bank
Publisher: Asian Development Bank
Total Pages: 625
Release: 2012-04-01
Genre: Business & Economics
ISBN: 9290926074

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Despite weak global demand, the Asian Development Outlook 2012 expects that developing Asia will largely maintain its growth momentum in the next couple of years, in an environment of easing inflation for most regional economies, although policy makers must be alert to further oil-price spikes arising from threats of oil supply disruptions. The report sees that the greatest risk to the outlook is the uncertainty surrounding the resolution of sovereign debt problems in the eurozone. Still, in the absence of any sudden shocks, developing Asia can manage the effects on its trade flows and financial markets.

Rising Inequality in Asia and Policy Implications

Rising Inequality in Asia and Policy Implications
Author: Juzhong Zhuang
Publisher:
Total Pages: 16
Release: 2014
Genre:
ISBN:

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This paper looks at the recent trends of rising inequality in developing Asia, asks why inequality matters, examines the driving forces of rising inequality, and proposes policy options for tackling high and rising inequality. Technological change, globalization, and market-oriented reform have driven Asia's rapid growth, but have also had significant distributional consequences. These factors have favored owners of capital over labor, skilled over unskilled workers, and urban and coastal areas over rural and inland regions. Furthermore, unequal access to opportunity, caused by institutional weaknesses and social exclusion, has compounded the impacts of these forces. All these combined have led to a falling share of labor income in national income, increasing premiums on human capital, and growing spatial disparity -- all contributing to rising inequality. The three drivers of rising inequality cannot and should not be blocked, because they are the same forces that drive productivity and income growth. This paper outlines a number of policy options for Asian policy makers to consider in addressing rising inequality. These options, aiming to equalize opportunities and, thereby, reduce inequality, include efficient fiscal measures that reduce inequality in human capital, policies that work toward increasing the number and quality of jobs, interventions that narrow spatial disparity, and reforms that strengthen governance, level the playing field, and eliminate social exclusion.

COVID-19 and Inequality in Asia: Breaking the Vicious Cycle

COVID-19 and Inequality in Asia: Breaking the Vicious Cycle
Author: Ms.Emilia M Jurzyk
Publisher: INTERNATIONAL MONETARY FUND
Total Pages: 23
Release: 2020-10-16
Genre: Business & Economics
ISBN: 9781513559179

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The COVID-19 pandemic risks exacerbating inequality in Asia. High frequency labor surveys show that the pandemic is having particularly adverse effects on younger workers, women and people that are more vulnerable. Pandemics have been shown to increase inequalities. As a result, income inequality, which was already high and rising in Asia before the pandemic, is likely to rise further over the medium term, unless policies succeed in breaking this historical pattern. Many Asian governments have implemented significant fiscal policy measures to mitigate the pandemic’s effect on the most vulnerable, with the impact depending on the initial coverage of safety nets, fiscal space, and degree of informality and digitalization. The paper includes model-based analysis which shows that policies targeted to where needs are greatest are effective in mitigating adverse distributional consequences and underpinning overall economic activity and virus containment.